Luanda: Angola expects more than 70 billion US dollars to be invested in its oil, gas, and energy infrastructure sectors over the next five years, according to Artur Custodio, executive director of the National Oil, Gas and Biofuels Agency (ANPG). Speaking at the Angola Oil and Gas conference in Luanda, Custodio emphasized the continued importance of fossil fuels to the economy, despite global capital constraints and increasing competition among oil-producing countries.
According to Angola Press News Agency, Custodio highlighted the selective nature of capital in the current market, with investors showing a preference for fiscal predictability, contractual stability, and expedited project timelines. In response, the ANPG is refining its contractual frameworks to encourage exploration, drilling, and production activities. Custodio also mentioned that the government is formulating a long-term hydrocarbon strategy extending to 2050, which aims to streamline concession grants and attract foreign investment.
The 7th edition of the Angola Oil and Gas International Conference and Exhibition is a two-day event, featuring participation from industry experts and companies. Key discussions include topics on oil and gas exploration and production, energy transition, and sustainability.
